As I mentioned, I don't see these behaviours as their only answer or think that’s where the bulk of their money is being spent, it's just that some of their answers aren't panning out like they hoped and those answers vary by what capitalist you're looking at. I know we talk about the billionaire class and the solidarity they have, but there's limits to that solidarity, because they're not a monolith, but they do share common ground, more often than not. This is a "not" scenario, however.
Oil and gas barons have poured billions and billions of their own money into CCS (at least $1.5 billion in the last 5 years alone from the figures I've seen, if not more) and used their corporate lobby to spend several billions more in public tax money on it, as well, money they used to use to fund new refineries and exploration projects.
If that private investment amount since 2016 looks small, it’s because most large-scale CCS projects were fired up around 2010 and have missed their unambitious yearly targets every single time, which decreased public funding and caused a lack of faith in the technology in its current iteration by capitalists and the market overall, most of the reduced funding for it being relegated back to R&D to take another swing. Additionally, oil and gas billionaires are directing their companies to slowly buy back public shares in their own companies, trying to lessen the impact of a highly-probable crash in the value of their companies in the long term before reverting them to delisted corporations.
But meanwhile, private investment in low to zero carbon energy was something close to
$250 billion In 2016 alone, primarily invested in wind, solar and off-peak energy storage solutions to make up for wind and solar’s primary shortcomings. In fact, private investment in these technologies grossly exceeded public investment (less than 10% of money spent on renewable energy in 2016 was public funding), mostly due to public purses being beholden to the fossil fuel energy lobby (and I'll get back to that). With these numbers, it’s all but guaranteed that FAR more of their money is being spent to mitigate climate change than escape the effects of it as a whole.
That is not to say that investment in renewable energy is some altruistic endeavour, despite the knock-on effects to the public well-being they will cause and, as the above paragraphs illustrate, money is not exclusively flowing in a positive direction.
Some capitalists, indeed, do not want to see a world where capitalism ends under
any circumstance; some of them see climate change as just as much of an existential crisis to capitalism as they ascribe to the rise of socialism, and we all know how much the highest classes have done to move heaven and earth preventing the ascendency of socialism, don't we? And it's not hard to understand why when it's clear how one begets the other, that the climate crisis is a major driver of 18-35yo people abandoning liberal capitalism in numbers not seen since the early 20th century, a fact that some capitalists have clearly cottoned onto and aren't happy about. This is part of what’s motivating 100s of billions per year in investment in renewables.
And I'm sorry I've diverged from the response so much, but this all demonstrates that there are capitalists who absolutely are investing very heavily in a better world but for ignoble reasons, like keeping it a decidedly capitalist world at the end, and it highlights some interesting points.
The other part that's pushing that investment forward is that the energy sector under capitalism is a captive market due to its absolute necessity, the sector that makes nearly every other facet in the modern era possible (right after or tied with the financial sector), near or at the top of the capitalist pyramid. And fossil fuel barons are in the weakest position they've ever been in right now, so a prime opportunity has been created for industrialists (heavy machinery manufacturers in particular) and industrial electronics tycoons (aka non-Silicon Valley electronics firms) to knock them down a peg and take up their position higher on the food chain, because re-building our entire energy grid around renewables (which industrialists and electronics manufacturers will be contracted to build) would net them several trillions of dollars in profits and win them all the power that fossil fuels currently have on our society. Not altruistic, but in the absence of socialism... it's better than the alternative, if only because it won't kill as many millions of people maybe? And until such a time as there's no need for rare earth minerals to build renewables, they would have allies in the non-fossil fuel resource billionaires from the mining sector. (of course, the mining companies have been hedging their bets for some time now, by originally trying to poo-poo renewables - which ingratiated them to their fossil fuel peers - in favour of nuclear power, another more finite resource that they control, but that's starting to backfire on them as they ran down the clock til it was too late to capitalize on the renewable fear-mongering and most of the world still doesn't have anywhere to bury nuclear waste, but that's a whole other discussion).
What I believe we are seeing, from everything I've already mentioned, is the dull roar of the beginnings of intra-class conflict among the billionaire set, with clear divisions.
Oil and gas billionaires have effectively made themselves no friends and I've come to understand that obfuscating the risks of climate change had as much to do with hiding that information from other capitalists, so as not to show weakness in their business model that someone else could capitalize on, as it did from the public, but they've now run out the clock and there's no escaping this truth. But being the head of the energy sector since the 19th century at least has its perks, and those perks include a LOT of government influence through things like lobbying and politicians desperately wanting to literally keep the lights on. They use this to stop renewable projects, shut down fully operational nuclear facilities and promote investment in stupid CCS projects that they hoped like hell would work and keep them in the energy business and shut out rivals, because of how much power the energy business gives them in society, more than most other capitalists could hope for. And because of the sheer volume of money it makes, fossil fuel companies also have many allies in the financial sector.
On the other side, in spite of stifled public investment, private companies that would reap a windfall on renewables work the infrastructure angle with massive private investments in the technology that accelerates renewable energy adoption and leave Silicon Valley and the like to work the consumer angle through EVs and such, and their rapid rate of technological improvement over the past 10 years makes that evident. They see oil & gas tycoons as causing and allowing capitalism to crumble on their watch, unfit for the position the oil & gas billionaires sit in and want to take that power for themselves, where they think it rightfully belongs due to the self-destructive profiteering with no long-term planning that fossil fuel billionaires have exhibited.
And you see this play out in real time. The pro-renewable camp tries to draw lines between "good capitalists" and "bad capitalists" and leverages strong public opinion in favour of stopping climate change for their benefit, while the pro-fossil fuel camp works to oust politicians that don't serve their interests (with conservatives being the most likely to belly up to their bar exclusively), run loads of political advertising to scare the public into voting the way they want them to and keep all that private investment in renewables from translating into actual public works projects and ruining their chance, however slim, to right their own ship with bullshit like CCS.
And so far, this fight has dragged out with no clear beneficiary, as most billionaire fights tend to go in the beginning until someone finally wins a decade or so later. But yes, I do in fact believe we're witnessing billionaire-on-billionaire knuckles-meet-face fighting, and one of the few instances where there's been any hint that it's happening in the public sphere. But the data sure tells the story that it's happening. And yeah, some of the rest who aren't directly involved in the fighting or think they know how it will play out? Yeah, some of them are exclusively building bunkers and finding means to escape. But I think you'll find the number of them doing that, and the money they spend doing it, isn't as much as one would think, and we should not be led to believe that they will just stand down from the capitalist project, letting it crumble as they try to walk away, because some of them ain't done with it yet if they have their say, but DO think some capitalists need to be put out to pasture. There's only so much solidarity among billionaires, because they're cannibalistic and don't mind killing and eating the weakest in their herd to protect the rest.